百视达Gets $290M Stalking Horse Bid

U.S. movie rental chain,百视达, has started a process to sell the company. The company has entered into an agreement with stalking horse bidder,Cobalt Video Holdco, for $290 million, addsThe Wall Street Journal.

Cobalt Video Holdco is formed by funds managed byMonarch Alternative Capital,Owl Creek Asset Management,Stonehill Capital ManagementandVärde Partners. The deal is subject to approval by the bankruptcy court and customary closing conditions.

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